The idea of state-run central banks getting in on digital currency evolution is gaining traction, especially as the coronavirus is forcing changes on how money is viewed on a global scale. The Bank of International Settlements (BIS) indicated recently that more governments are now getting involved in exploring the possibility, and one of the first countries to have considered a central bank digital currency (CBDC), the U.K., continues to develop its initiative. One of the things determined by the country’s central bank, the Bank of England (BoE), is that it might be more beneficial to turn to a private digital currency, instead of trying to build a completely new alternative.
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